AstraZeneca PLC said it intends to raise its annualised dividend for 2024, citing confidence in its business performance and cash generation.
The Cambridge, England-based pharmaceutical company said the increase will be by 20 US cents to $3.10 per share.
For 2023, AstraZeneca had paid a total dividend of $2.90, which was unchanged from 2022, despite skyrocketing profit on the back of lower sales costs.
Chair Michel Demare said: ‘This uplift is in line with our progressive dividend policy, which remains unchanged, and reflects the continuing strength of AstraZeneca’s investment proposition for shareholders.’
In February, Astra had reported a surge in pretax profit for 2023 to $6.90 billion from $2.50 billion in 2022. Revenue edged up 3.3% to $45.81 billion from $44.35 billion, though Astra had noted a 21% jump in total revenue from oncology.
Notably, cost of sales were cut by 33% to $8.27 billion from $12.39 billion.
AstraZeneca shares were 1.2% higher at 10,858.00 pence each on Thursday morning in London.
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